Hong Kong’s Securities and Futures Commission has announced that they will issue licensed for digital trading platforms in the city, a move which is sure to shake up financial services in Asia.

Forkast.News’ Editor-in-Chief Angie Lau had a brief behind-the-scenes interview with Ashley Alder, CEO of the regulator moments before he made the announcement at Hong Kong Fintech Week.

“There is no cause for panic, and the key takeaway is that HK is a center where crypto platforms have become fairly well established, a large proportion of them, a very large proportion of them are unregulated. Clearly from a public interest, investor protection perspective, we need to look at that.” said Alder on the sidelines of the event.

Public technology and digital asset company BC Group said in a statement that they believe Hong Kong-based digital asset platforms will eventually be consolidated in favor of licensed players under this regime.

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